Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to "Small Business Lending Under the Equal Credit Opportunity Act (Regulation B)".

House Joint Resolution 85 is a proposal to overturn a specific federal regulation issued by the Consumer Financial Protection Bureau (CFPB) regarding small business lending. The regulation in question requires banks and other financial institutions to collect and report data on credit applications from small businesses, including information on the race, gender, and ethnicity of the business owners.

If this resolution becomes law, it would nullify that reporting requirement, meaning lenders would no longer be mandated to gather and submit this specific data to the government. For small business owners, this would eliminate the additional demographic questions currently required during the loan application process, while for financial institutions, it would remove the administrative task of maintaining and reporting these records.